In a "Jobless Recovery

question 15

Multiple Choice

In a "jobless recovery,"

• A)no new jobs are created during a recession or in the early stages of recovery
• B)firms do not hire new workers until they see the economy has recovered from the recession
• C)unemployment must go back to its natural rate before the upswing can start
• D)there is a lag between GDP growth and a drop in unemployment
• E)none of the above

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Definitions:

Duress

An action by one party that forces another party to do what need not be done otherwise.

Personal Defense

In negotiable-instruments law, a defense that can be used against a holder but not against a holder in due course of a negotiable instrument. Also called limited defense.

Payment

The transfer of money or goods from one person or entity to another in exchange for goods, services, or to fulfill a legal obligation.

Fraud in the Inducement

A deceptive practice where one party uses fraudulent acts to entice another party into a contract, which can render the contract voidable.